Good Entry PointIt was great to see AXE finalized the $10Million NON REPAYABLE GRANT and it has taken away a good chunk of the funding risk. They now have $10M to start building the RF XL Pilot project, will need another $6-10M but not for another 15 months and could be financed from additional industry partners and other activities, have partnered with Prosper to add wells and expedite construction timelines for them and gives us a site to test our technology, have been granted a number of patents and have further patents pending, completed a 1/20th test last winter with positive results and I just noticed in this news release that AXE owns the design and IP specific to this new GE generator which will be ready for delivery and testing November 2017.
At $0.215 Acceleware has a market cap of ~$22.5M. Even if we had to raise $10M @ $0.20 with half warrants this would still only have a market cap of ~$37.5M. With all of the above going on I think there is a lot of potential upside, especially if an industry partner joins the party backing the companies technology.
Quote from NR
Upon start-up, Acceleware plans to test key operational aspects of the RF XL technology, including overall system efficiency and oil production rates. The initial heating phase is scheduled to run for six months utilizing a 2-megawatt silicon carbide prototype generator developed in partnership with General Electric. Acceleware owns the design and IP specific to this new generator which will improve power delivery, and cost per watt by a factor of ten times versus existing technologies. These performance and efficiency gains are key to RF XL's potential to reduce operating and capital costs for oil producers. The first working module of the prototype generator is on-track for delivery and testing in November 2018.